Survey: Almost A Quarter Of Americans Have Less Than $100 Saved Up For An Emergency

Saw the following on the local evening news the other day. From a September 25 press release from Chicago-based CashNetUSA, an online leader in payday loan services:

Americans are facing a drought of rainy day funds to handle unexpected emergencies. Twenty-three percent of Americans have less than $100 in savings to cover an emergency expense if it happened today while forty-six percent report having less than $800, according to a new national survey conducted by online lender CashNetUSA.com. The findings reflect the growing percentage of individuals with varying socio-economic backgrounds living paycheck to paycheck.

Fifty-five percent of Americans surveyed with children under the age of 18 report having less than $800 to handle an emergency. Individuals living in the Northeastern and Western regions are more likely to have $800 or more in savings (at 60 percent respectively) while 31 percent of those living in the North Central region have less than $100.

(Editor’s note: Italics added for emphasis)

Sounds to me like Joe Six-Pack might be “tapped-out.”

And yet, some people still foolishly pin their hopes on Main Street spending us back to economic prosperity in the near future.

You can read the entire press release and results of the national survey on the CashNetUSA website here.

Share

Tags: , ,

Saturday, September 29th, 2012 Debt Crisis, Emergencies, Main Street, Recovery, Savings, Spending

No comments yet.

Leave a comment

Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

PLEASE RATE this blog HERE,
and PLEASE VOTE for the blog below:



Thank you very, very much!
Advertising Disclosure here.
ANY CHARACTER HERE
Emergency Foods Local vendor (Forest Park, IL). Review coming soon.
ANY CHARACTER HERE
Legacy Food Storage Review coming soon
ANY CHARACTER HERE
MyPatriotSupply.com reviewed HERE
ANY CHARACTER HERE
Buy Gold And Silver Coins BGASC reviewed HERE
ANY CHARACTER HERE
BulletSafe reviewed HERE
ANY CHARACTER HERE
BullionVault BullionVault.com reviewed HERE
ANY CHARACTER HERE
This project dedicated to St. Jude
Patron Saint of Desperate Situations

Categories

 

Archives